1. Property Acquisition – 30 Wellington Road – Bus Rapid Transit Project
That, on the recommendation of the Managing Director, Corporate Services and City Treasurer, Chief Financial Officer, with the concurrence of the Managing Director of Environmental and Engineering Services and City Engineer, the Director, Roads and Transportation and the Project Director, Rapid Transit Implementation, on the advice of the Manager of Realty Services, with respect to the property located at 30 Wellington Road, further described as Part Lot 19, Plan 11 (4th), and Part Lots 1 and 9, Plan 95 (4th), designated as Part 2 on Plan 33R-16388, further described as PIN 083570362, having a lot size of approximately 4,445 square feet, as shown on the location map attached, for the purpose of future road improvements to accommodate Bus Rapid Transit initiative, the following actions be taken:
a) the offer submitted by Karine Khachakjian and Herpsime Keuchkerian to sell the subject property to the City, for the sum of $200,000.00, BE ACCEPTED subject to the following conditions:
i) the City having the right to view the property two (2) further times prior to closing;
ii) the transaction includes all the existing fixtures, chattels, and appliances; and
b) the financing for this acquisition BE APPROVED as set out in the revised Source of Financing Report attached hereto as Appendix “A”.
2. Property Acquisition – 251 Wellington Road South – Bus Rapid Transit Project
That, on the recommendation of the Managing Director, Corporate Services and City Treasurer, Chief Financial Officer, with the concurrence of the Managing Director of Environmental and Engineering Services and City Engineer, the Director, Roads and Transportation and the Project Director, Rapid Transit Implementation, on the advice of the Manager of Realty Services, with respect to the property located at 251 Wellington Road South, further described as Part Lot 31, Plan 452, having a lot size of approximately 33 x 130 feet, as shown on the location map attached, for the purpose of future road improvements to accommodate the Bus Rapid Transit initiative, the following actions be taken:
a) the offer submitted by Rylie Jean Guest and Zachary Levi Jenkins Baribeau to sell the subject property to the City, for the sum of $195,000.00, BE ACCEPTED subject to the following conditions:
i) the City agrees to pay the Vendors’ reasonable legal costs, including fees, disbursements and applicable taxes, to complete this transaction, subject to assessment;
ii) the City having the right to view the property two (2) further times prior to closing;
iii) the City will assume the rental contract for the hot water tank;
iv) the City agreeing to pay a further sum of $7,000.00 for the existing fridge, stove, washer and dryer, for the installation of main floor baseboard and a proper fitting kitchen counter; and,
b) the financing for this acquisition BE APPROVED as set out in the revised Source of Financing Report attached hereto as Appendix “A”.